American Airlines is reporting a small profit in the second quarter, thanks to nearly $1.5 billion in federal pandemic relief
FORT WORTH, Texas — American Airlines eked out a second-quarter profit of $19 million, its first since the pandemic started, thanks to nearly $1.5 billion in federal relief.
American’s revenue jumped more than four-fold from a year ago, but was down 37% from the same quarter in 2019.
Excluding American’s share of $54 billion in federal relief to help airlines cover payroll costs, and other special items, the Fort Worth, Texas-based carrier would have lost $1.1 billion. That is American’s smallest adjusted loss in any quarter since 2019.
“We have taken a number of…
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